From Breakingviews - Rome foot-dragging can help EU kick bad aid habits
But Brussels also could get more bang from its buck. Economic conditions have changed a lot since it launched its 800 billion euro pandemic recoveryin 2020. Goals that made sense then may no longer be a priority, other than to placate hardliners like Germany who see any slip as a sign of moral failure. It may be politically expedient to stick to the original plans as a way of signalling that “temporary” aid vehicles won’t be made permanent through reprogramming back doors.
On the other hand, the Commission would like more countries to take advantage of the rescue loans. EU member states approved public borrowing of about 800 billion euros to fund the aid programme. National governments were happy to take the full 338 billion euros that does not need to be repaid, but loan take-up has so far lagged behind. Total commitments come to only about 508 billion euros, according to aWithout more take-up, the EU won’t be able to make the most of its budgetary momentum.
To truly help the economy, aid programmes need both the structure to succeed and the flexibility to matter. Getting Italy back on track is a chance to show both goals are possible.Italy and the European Commission are in extended negotiations over 19 billion euros in pandemic recovery funds, after an initial two-month review failed to unlock the money. A decision is expected by the end of April.
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